EDAG Engineering Group AG / Key word(s): Miscellaneous
ATON Austria Holding GmbH (ATON Austria) informs EDAG Engineering Group AG of intended share purchases
Arbon, 1 August 2019. EDAG Engineering Group AG (EDAG or the Company), ISIN CH0303692047, was today informed by its shareholder, ATON Austria, that ATON Austria intends to purchase additional shares of the Company.
ATON Austria informed the Company that it intends to purchase shares of the Company during the period until 31 July 2020. Up to 1,000,000 shares of the Company (representing approx. 4% of the share capital of EDAG) shall be bought during this period. The closing price of the EDAG share in Xetra trading on the Frankfurt Stock Exchange was EUR 10.90 on 31 July 2019.
The purchase of the Company's shares is to be carried out on-exchange and/or off-exchange. Any on-exchange purchases are intended to be implemented in a manner limiting the impact on the share price via those trading venues on which the EDAG shares are admitted to trading or on which they are traded. The purchase price per share to be paid by ATON Austria (excluding incidental acquisition cost) is not, according to ATON Austria, to exceed of the stock market price by more than 5%. The relevant stock market price for such purpose is the average of the closing prices in Xetra trading on the Frankfurt Stock Exchange on the five trading days immediately preceding the respective acquisition. The volume of the shares to be acquired on-exchange on any given day is not to exceed 25% of the respective average daily trading volume on such trading venue. The average daily trading volume of the respective trading segment shall be based on the average daily trading volume during the 20 trading days preceding the respective date of purchase.
In addition, ATON Austria reserves the right to purchase shares of the Company off-exchange; in case of off-exchange purchases, the aforementioned limitations of price and volume will not apply.
ATON Austria intends to commission a bank to carry out the share purchases. Such bank will make its decisions in relation to the timing of the purchases of the shares independently of, and without influence from, ATON Austria. ATON Austria stated that it preserves the right to terminate the bank's appointment and/or to commission another bank. Subject to applicable law, the share purchases may be suspended and resumed at any time. There will be no disclosure of individual transactions executed. ATON's disclosure obligations pursuant to the German Securities Trading Act remain unaffected.
|Company:||EDAG Engineering Group AG|
|Phone:||+41 71 54433-0|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart|
|EQS News ID:||850117|
|End of Announcement||DGAP News Service|